Digital Revolution MI4007 Week 01 PDF

MI4007 Wk.01 Digital Revolution: The change from mechanical and analogue electronic technology to digital electronics. Marked the beginning of the Information Age. General Purpose Mainframe Computing – PC – Client/Server - Enterprise Computing – Cloud + Mobile Computing Moore’s Law: that the numb...

MI4007 Wk.01 Digital Revolution: The change from mechanical and analogue electronic technology to digital electronics. Marked the beginning of the Information Age. General Purpose Mainframe Computing – PC – Client/Server - Enterprise Computing – Cloud + Mobile Computing Moore’s Law: that the number of transistors fitting on a computer chip will double every one and a half to two years. Processing power, speed and storage grow exponentially as device cost falls. Metcalfe’s Law: Value/power of a network grows exponentially as a function of the number of network members. Processors are becoming smaller and cheaper Networks are bigger and more valuable Increased growth of the IT industry Digitisation: The mass adoption of connected digital services by consumers, enterprises, and government, emerging as the key economic driver accelerating growth and job creation. Characteristics of Digital Products: Immaterial Borderless Physically indestructible They are a public good, use by one individual does not limit use to another Expensive to produce but very cheap to replicate ICT has proven to be a key enabler of socioeconomic progress and development, enhancing productivity and therefore economic growth, reducing poverty and improving living standards in many ways. Creative Destruction: Where one new industry completely replaces another. E.g. Cassette, MP3, CD, Spotify. References: Notes based on MI4007 Lecture Slides